As a will writer, your clients expect you to make sure that their estate will be dealt with as they wish when they die. But if something went wrong and you were accused of misconduct, you could be faced with a hefty compensation claim.
Plus, since you come into contact with clients and other members of the public in the course of your work, injury and damage compensation claims are also a possibility.
Professional indemnity insurance and public liability insurance can cover compensation claims against you. These key insurance covers are required by membership bodies like the Society of Will Writers and the Institute of Professional Will Writers.
You can opt to add other business insurance covers to your will writer insurance policy too, to cover things like your business equipment, your business premises, and injury and illness claims from employees.
Compare quotesWhen you’re buying insurance to cover your will writing business, you can choose which covers to get based on your business requirements. It’s important to check the rules of your membership body, as they will usually specify that members have particular covers and cover levels.
If you made a mistake in your work - for example you gave misleading advice when preparing a will, or you failed to get the right signatures on a document - you could be sued by your client. Professional indemnity insurance could cover the legal fees and compensation costs, up to the limit of your policy. Both the Society of Will Writers and the Institute of Professional Will Writers require their members to have adequate professional indemnity insurance.
Public liability insurance is important for most businesses that come into contact with members of the public, as it can cover third party compensation claims for injury or damage. For example if you visited a client’s home and accidentally knocked over an expensive vase, or if a client visited your premises and slipped on a wet floor, a resulting compensation claim could be covered by your public liability insurance. Your professional body may stipulate that you have this cover too; the Institute of Professional Will Writers, for example, requires members to have at least £2 million of public liability insurance.
There are plenty of other business insurance covers you can add to your will writer insurance. There’s employers’ liability insurance, which is usually legally required if you have any employees, and business buildings insurance if you’ve got property to protect. There’s also business equipment insurance in case your kit is damaged or stolen.
Need more details? Hear more about your business cover options from our expert team in a quick set of videos. Just choose the cover you’re interested in and get some expert insight into how each option can help your business. You can also check out our business insurance FAQs.